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Solidium Oy is a Finnish state-owned investment company. Founded in 1991, Solidium's original purpose was to manage the property of SKOP Bank (Säästöpankkien Keskus-Osake-Pankki; fi), which went bankrupt in the early 1990s recession. [1]
In 2008, Solidium's mandate became the management of the listed minority shareholdings of the Finnish state. [2]
Previously, the government directly owned the stock, and transferring it to a single company was the work of Minister of Trade and Industry Jyri Häkämies. On August 1, 2022, the net asset value of Solidium was EUR 8,968 billion. [3]
Aside from Solidium, the government still directly owns shares in three listed companies as a majority shareholder.
Solidium took over the state owned-shares in 2008 of Kemira, Metso, Outokumpu, Rautaruukki, Sampo, Sponda, Stora Enso, and Telia, and in 2009 Elisa.[ citation needed]
Solidium acquired over 5% of Outotec Mining Technology Company's shares in March 2012, while Goldman Sachs reduced its ownership to less than 5%. 5% is the limit of the obligatory stock information note in Finland. [4]
Solidium has also bought Talvivaara mining stocks [5] and sold all shares of Sponda.[ citation needed]
Company [6] | % of company owned |
---|---|
Anora Group | 19.4 |
Elisa Oyj | 10.0 |
Kemira Oyj | 10.2 |
Konecranes | 10.1 |
Metso Oyj | 14.9 |
Nokia Oyj | 5.3 |
Nokian Tyres | 9.4 |
Outokumpu Oyj | 15.5 |
Sampo Oyj | 6.2 |
Stora Enso Oyj | 10.7 |
Tietoevry Corporation | 10.9 |
Valmet Corporation | 10.1 |
The Finnish state also directly owns shares of certain publicly listed companies, deemed to be strategically important, that are not in Solidium's portfolio. These include Finnair (55.8%), Fortum (50.8%), and Neste Oil (50.1%). [7]
Solidium Oy managing director is Kari Järvinen. The members of Solidium's Board of Directors are chairman (interim) Heikki Bergholm, Markku Hyvärinen ( Varma, Tradeka), Marketta Kokkonen ( Espoo municipality), Anni Vepsäläinen (Finnish Fair Corporation), and Eero Heliövaara (Ownership steering department of the Prime Minister's Office). [8]